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Though a strong day for energy stocks. Not sure whats behind the rise but then again I wasn't sure what was behind the fall except a retrace after a spike. Let's see if it can move up again.
After the recent spike. Dribbly sells pushing down the Sp out of kilter with volume. Looks a decent prospect though I hate buying in on spikes. I have been incinerated before by waste fuel companies so hoping for a genuine investment here. Let's see.
Nice find Agri just confirms everything we've posted here since May
Https://theoakbloke.substack.com/p/should-you-say-nein-to-ix
Their also a sponsor of a Reuters event in Dubai soon
https://www.linkedin.com/posts/upstream-intelligence_energymena2023-cop28-activity-7125785030403985408-ddDw?utm_source=share&utm_medium=member_android
Another IX portfolio company Context Labs just got a thanks from a senior exec at Microsoft for teaming up with them
https://www.linkedin.com/posts/darryl-willis_microsoft-ai-azure-activity-7123689066545479680-1EKc?utm_source=share&utm_medium=member_android
Back up to my original 150k share here can't buy anymore above £500 any higher and it's NT
Peter the new CFO and President should be at COP28 and looks like WasteFuel competitors are dropping like flies FULCRUM BIOENERGY INC VELOCYS POWERHOUSE ENERGY EQTEC etc..
Unfortunately non of the above competitors have the equity partners WasteFuel has ie BP $10 mill a few months ago AP Moller Maersk and many others
No negative surprises - really solid results.
Of particular note, was not only are BP an investor into WasteFuel but also are providing:
"....a technical collaboration to improve bio-methanol production efficiency, yields and economics. As part of this agreement, the business will be able to leverage bp's proprietary technology to help optimise and improve its low-carbon, bio-methanol production."
Interesting to see the Enphys SPAC is slowly ticking upwards - up 4.7% YTD
https://www.nasdaq.com/market-activity/stocks/nfys/latest-real-time-trades
IX owns the Mgt Co for the asset while the SPAC + Debt will be used to buy the asset(s) - where we know at this stage it will be a South American biofuels business.
Today a few sales with value £10k cause a SP drop of 10%. AIM pricing is not fit for purpose and the volatility is a major turn off got PIs. No wonder so few companies are listing in London nowadays.
Maiden voyage using green methanol nearly complete South Korea stopping at Singapore to refuel Suez Canal
https://www.linkedin.com/posts/methanol-institute_oci-global-completes-first-european-green-activity-7102329026748309504-Fhwm?utm_source=share&utm_medium=member_android
This company has Enphys as it 5th biggest holding just below Spotify they have a proprietary spac technique which started in 2020
https://stockzoa.com/fund/radcliffe-capital-management-lp-formerly-rg-capita/
Here's the company website
https://www.radcliffefunds.com/
They recently got a equity stake by kudu $94 bill AUM at 25 partner firms
https://www.kuduinvestment.com/
I like the look of this one Agricore it's spun out of a university of Brazil in 2020 regarding 2nd generation ethanol and acquired American biomass technology (long established Brazilian company) in 2021 technology looks advanced compared to the basic plant oil presses out there currently
http://www.brixbrasil.com.br
Happy too Agri with this and a deal in principle signed good news
Could the acquisition be one of these?: https://www.mordorintelligence.com/industry-reports/brazil-biofuel-market
What I found really interesting is that biofuels in Brazil are neutral to gasoline at $50-$60 crude. In other words biofuels at today's $70+ are at an advantage (let alone the tax benefits/penalties - which skew this further)
https://www.iea.org/articles/how-competitive-is-biofuel-production-in-brazil-and-the-united-states
IX is down presumably because of the longer completion date. But it feels like a positive to me that we now know there's a specific deal in the making.
8k from yesterday
https://www.sec.gov/Archives/edgar/data/1850502/000114036123041146/brhc20057941_defa14a.htm
On August 18, 2023, Enphys Acquisition Corp. (the “Company”) signed a non-binding letter of intent for a business combination with a leading and well-established advanced biofuels company in Latin America (the “Target”). However, no assurances can be made that the Company and the Target will successfully negotiate and enter into a definitive agreement regarding a business combination. Any transaction would be subject to board and equityholder approval of both the Company and the Target, regulatory approvals and other customary closing conditions
1 has just had 10 mill from BP and access to BP's ip on biofuels and IX owns 36% of
2 looks like a major Latin America advanced biofuels (and they've got serious agri feedstock there) that going to reversed into a nasdaq listed spac that IX own 30 % of
WOW
Going to dig out what's been filed at the sec in US
Enphys has also signed a non-binding letter of intent for a business combination with a leading and well-established advanced biofuels company in Latin America (the 'Target').
Not just bloomberg saying how much green methanol is needed rueters now
https://reut.rs/47DDAvz
WasteFuel and BP are definitely in the right place at the right time working together on green methanol
https://www.linkedin.com/posts/methanol-institute_opinion-the-future-of-renewable-fuels-isnt-activity-7099845442183598080-iZug?utm_source=share&utm_medium=member_android